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D2L has raised $165.0M across 2 funding rounds.
Key people at D2L.
D2L has raised $165.0M in total across 2 funding rounds.
D2L is a Kitchener, Ontario-based software company that develops Brightspace, a cloud-based learning management system used to design and deliver online educational content. The software-as-a-service platform serves a global market of more than 1,300 institutional customers across forty countries, including over 500 post-secondary universities, K-12 school districts, corporate enterprises, and government agencies. Operating with a worldwide workforce of over 1,300 employees, the enterprise supports over 18 million individual users and secured early institutional backing from private equity firm The Xander Group. The company debuted on the Toronto Stock Exchange in November 2021, achieving an approximate valuation of $1.1 billion following a fiscal year that generated $138 million in revenue with twenty-one percent year-over-year growth. D2L was originally founded in September 1999 by John Baker during his undergraduate systems design engineering studies at the University of Waterloo.
D2L has raised $165.0M in total across 2 funding rounds.
D2L's investors include Accel, Decibel Partners, Kamran Ansari, NEO, NewView Capital, Hadi Partovi, Trae Vassallo, Aurion Capital, Columbus Nova Technology Partners, Four Rivers Group, Graham Holdings, Jon Sakoda.
D2L has raised $165.0M across 2 funding rounds. Most recently, it raised $85.0M Series B in August 2014.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2014 | $85M Series B | — | Accel, Decibel Partners, Kamran Ansari, NEO, NewView Capital, Hadi Partovi, Trae Vassallo, Aurion Capital, Columbus Nova Technology Partners, Four Rivers Group, Graham Holdings, JON Sakoda, John Ruffolo, Silicon Valley Bank | Announced |
| Sep 1, 2012 | $80M Series A | — | Accel, Decibel Partners, Kamran Ansari, NEO, NewView Capital, Hadi Partovi, Trae Vassallo, JON Sakoda, OMERS Ventures | Announced |
Key people at D2L.
D2L is a Canada-based global education technology company that develops Brightspace, a cloud-based learning management system (LMS) used by over 14.5 million learners worldwide in K-12, higher education, corporate training, healthcare, government, and associations.[1][2][6] Brightspace enables schools, universities, and businesses to create, deliver, and manage personalized online and blended learning experiences, solving challenges like accessibility, engagement, and scalability in education by integrating AI tools, analytics, and mobile support.[1][2][4][7] The company also offers Wave, a discovery platform for workforce upskilling that connects employees to learning programs across providers like Brightspace, Blackboard, Moodle, and Canvas.[3]
D2L's growth momentum is strong, with recent 2024-2025 awards from G2 and Tech & Learning recognizing its AI innovations like D2L Lumi, which ranked first in education categories for enhancing instructional design and learner outcomes.[5] Serving more than 1,300 colleges and districts, D2L focuses on universal access to high-quality learning, driven by AI that empowers educators without replacing them.[2][3][5]
D2L was founded in 1999 by John Baker, a Canadian entrepreneur and systems design engineering student at the University of Waterloo, who became its first CEO and remains at the helm.[1][2][3] Inspired by his family of educators and a campus walk that crystallized learning as the foundation for generational progress, Baker envisioned a platform to impact millions—potentially billions—of learners across communities and cultures.[2][3]
Early milestones include 2004 innovations in Competency Based Education and ePortfolios, the 2012 IMS Global Platinum Learning Impact Award, and 2013 recognition from the National Federation of the Blind for accessibility leadership.[1] From its Canadian roots, D2L expanded globally with offices in Australia, Brazil, Europe, India, Singapore, and the US, evolving from Desire2Learn to a comprehensive learning innovation leader over 25+ years.[1][2]
D2L stands out in the edtech LMS market through these key strengths:
D2L rides the wave of personalized, AI-augmented education amid rising demands for hybrid learning post-pandemic, workforce reskilling, and equitable access in a global market projected to grow rapidly.[2][5] Timing is ideal as edtech shifts from generic content delivery to adaptive, human-centered AI—D2L's Lumi exemplifies this by bridging instructional gaps without steep learning curves.[5][7]
Market forces like K-12 digitization, higher ed outcomes-based shifts, and corporate upskilling (via Wave) favor D2L's cross-sector reach, with IMS Global certifications ensuring interoperability.[1][3][10] It influences the ecosystem by setting accessibility standards, fostering MOOC platforms like Open Courses, and partnering for public-sector scalability, helping millions achieve skills for future economies.[1][6]
D2L is poised to expand AI-human hybrids like Lumi and Creator+ amid edtech's AI boom, targeting deeper K-12/higher ed penetration and corporate reskilling via Wave.[2][3][5] Trends like predictive analytics, gamified outcomes, and universal accessibility will shape its path, potentially doubling users as global education digitizes further.[7]
Its influence may evolve from LMS pioneer to full learning ecosystem orchestrator, empowering billions per Baker's vision—transforming learning as the ultimate catalyst for progress.[2][3]
